Investments in the Arctic

18.05.2020News

The AEC’s work is driven by Working Groups which are action-oriented and focus on solutions that drive Arctic business forward in a responsible and sustainable manner. AEC Working Groups’ themes reflect the areas identified by the Arctic business community.

The Investments & Infrastructure Working Group aims to increase understanding that the Arctic is not a region with limited economic opportunity and potential but has the potential to grow.

In 2015, the World Economic Forum’s (WEF) Global Agenda Council on the Arctic published an Arctic Investment Protocol (AIP) with an intention to start a discussion and build a coalition around responsible investments in the Arctic. While the World Economic Forum’s Global Agenda Council on the Arctic ceased to exist in 2016, the World Economic Forum wanted to see the work on the AIP taken forward. The AEC decided to endorse the intent of the AIP at its Annual Meeting in 2017, and the AIP was transferred to the AEC in 2018.

Since then the Investments & Infrastructure Working Group focuses on creating guidelines that aim for responsible investments and stimulating economic growth in the Arctic region. The goal of these guidelines is to provide information on who to consult when investing in a specific field and/or region in the Arctic. These guidelines are formed by the Arctic businesses, the local people, and communities with the participation of financial institutions.

Arctic Investment Protocol aspires to promote sustainable and equitable economic growth in the region that furthers community well-being and builds resilient societies in a fair, inclusive, and environmentally sound manner.

Read more about the Investments & Infrastructure Working Group work here: https://arcticeconomiccouncil.com/our-work/